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{
    "id": 1144222,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1144222/?format=api",
    "text_counter": 180,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
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    "content": "The Biashara Kenya Fund Regulations were made by the Cabinet Secretary (CS) of the National Treasury and Planning pursuant to Section 24(4) of the PFM Act, 2012. These regulations were submitted for scrutiny on 13th May, 2021, and subsequently tabled before the House on the same day. These regulations seek to collapse the provisions of the Uwezo Fund, the Women Enterprise Fund and the Youth Enterprise Development Fund together into what is called the Biashara Kenya Fund. The justification given for this merger is that the establishment of a new fund will operationalise Articles 27, 55(b) and (c); and 56(b) and (c) of the Constitution of Kenya which provide for affirmative actions, programmes and other resources in respect of disadvantaged groups and youth aimed at ensuring equitable development of State resources. These regulations also intended to operationalise the Presidential Taskforce on Parastatal Reform Report of 2014, which recommended the merger of the existing affirmative action funds. The source of the fund would be an initial capital of Kshs2.5 billion appropriated by this House. The Committee held several meetings with the CS for the National Treasury and Planning with respect to the draft regulations. During these meetings, the CS made submissions to the Committee on the regulations on 1st February, 2021, at Sarova Whitesands Beach Resort & Spa Mombasa. On Thursday, the CS came back and made presentations to the Committee. During this meeting, pertinent issues were raised concerning the proposed merger. Pursuant to Section 13(q) of the Statutory Instruments Act, the Committee made a resolution with the National Treasury and raised the following concerns:"
}